The city is in the middle of a redevelopment boom, with small old buildings making way for a big new one and that is where the Permanent Alternative Accommodation Agreement is playing the lead role
Since November 2021, housing demand from builders had started softening in Mumbai. Except for select projects, the trend was all too visible yet registration of homes was strong. In fact, in March 2022, registrations were the third highest in a decade. One argument was that people rushed to register their homes ahead of the 1 percent metro cess kicking in from April. The other argument was that the secondary market was still holding up strong, even though the primary market had moderated. Both are valid reasons.
Source: Money Control News